Social Security at 70 Options since I was born before 1954
I will be 70 in 10/23. I recently applied for benefits. An ind from SSA explained I have 3 options; take my benefit of $4K/mo, or go back to 11/22 & receive a check for $29K & take a $200 / monthly decrease in benefits , or draw on my husbands record going back to 11/22 & receive an $11K check & take a lesser monthly benefit decrease. Should I take the $29K as sure money based on the fact that it appears Soc Sec funding is in trouble. I am in excellent health and will not rely on my monthly benefit. Both my husband & I have pensions. He is 78 & took his social security at 62. We have about $1.5M in savings & investments.
Terry Says
I’m not going to play at being the expert in making these decisions; instead I am going to send you to THE expert, Larry Kotlikoff, who created software to go through all the variables and show you the best road to claiming — which may differ depending on your goals (ie, max money now vs max money to a survivor, etc).
Use this link to go to www.MaximizeMySocialSecurity.com. It costs $39 and is well worth it!
